Technical analysis: EUR/USD; USD/CHF; USD/JPY; GBP/USD

EUR/USD has pierced Monday’s high of $1.3587 after Italy’s Letta win confidence vote. Above resistance comes at $1.3620 (recent highs) with the stronger resistance is near yearly high on $1.3712. Initial support remains at $1.3530 (support line from Sep 6). Below $1.3460 (Sep 25 low) support is around $1.3400.

GBP/USD consolidates below Monday’s high at $1.6250 (initial resistance). Initial support is near $1.6150 (channel line from Sep 6), then - at $1.6000 (Sep 26 lows). Above $1.6250 resistance is around $1.6340 (Jan 2 highs) and $1.6480 (channel line from Sep 6).

USD/CHF holds a bit higher Mondays’ lows on Chf0.9000. A sustained break under Chf0.9000 will open the way for channel line from Jul 8 on Chf0.8900. Below losses may widen to Chf0.8860. Above Chf0.9075 resistance comes at Chf0.9130/35 (Sep 25 high) and Chf0.9230 (Sep 16 lows).

USD/JPY recovered to Y97.80 from yesterday’s lows on Y97.15. Initial resistance comes at Y98.70 (Tuesday’s high), then - at Y99.20 (Thursday’s high) and Y99.65. Below Y97.15 support is around Y96.80 (Aug 17 lows) and Y95.80 (Aug 8 lows).

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